9,241 Shares in Chevron Corporation $CVX Purchased by Calton & Associates Inc.

Key Points

• Calton & Associates Inc. invested approximately $1.55 million in Chevron Corporation, acquiring 9,241 shares during the first quarter.
• Chevron has received mixed ratings from analysts, with price targets ranging from $155.00 to $178.00, and currently holds an average rating of "Hold" with a target of $163.95.
• The company announced a quarterly dividend of $1.71 per share, representing a 4.3% yield, with an ex-dividend date of August 19th.

Calton & Associates Inc. purchased a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,241 shares of the oil and gas company's stock, valued at approximately $1,546,000.

Several other hedge funds have also recently modified their holdings of the stock. GQG Partners LLC acquired a new position in Chevron in the 1st quarter worth approximately $1,466,751,000. Nuveen LLC purchased a new position in shares of Chevron during the 1st quarter valued at approximately $1,362,232,000. GAMMA Investing LLC lifted its position in shares of Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after buying an additional 5,382,847 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock valued at $5,592,263,000 after buying an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Chevron by 141.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company's stock valued at $316,483,000 after purchasing an additional 1,107,628 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Activity

In related news, Director John B. Hess sold 375,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Evercore ISI reaffirmed an "outperform" rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. TD Cowen raised their price objective on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday, August 4th. Raymond James Financial reissued an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. Piper Sandler raised their price objective on Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Finally, Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $163.95.

Chevron Stock Performance

Shares of NYSE:CVX traded down $3.84 during trading on Wednesday, reaching $157.99. The company had a trading volume of 8,521,219 shares, compared to its average volume of 9,294,188. The firm has a market capitalization of $273.01 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 2.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The stock's fifty day moving average price is $152.93 and its 200 day moving average price is $148.86. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron's quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.55 earnings per share. As a group, equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Tuesday, August 19th. Chevron's dividend payout ratio is currently 88.03%.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.